As hyperconnected devices and decentralized data architectures expand, securing IoT transactions becomes increasingly challenging. Blockchain offers a promising solution, but its effectiveness relies on the underlying consensus algorithm. Traditional mechanisms like PoW and PoS are often impractical for resource-constrained IoT environments. To address these limitations, this work introduces a fair and lightweight hybrid consensus algorithm tailored for IoT. The proposed approach minimizes resource demands on the nodes while ensuring a secure and fair agreement process. Specifically, it leverages a distributed lottery mechanism to fairly propose blocks without requiring specialized hardware. In addition, a reputation-based block voting mechanism is incorporated to enhance trust and establish finality. Finally, experimental evaluation was conducted to validate the key features of the consensus algorithm.
Vavilis et al. (Tue,) studied this question.